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- YouTube's Dilemma 🎥
Short videos are taking over the internet, and YouTube has followed this trend by investing heavily in Shorts.
YouTube is struggling to figure out how to monetize Shorts, and creators are uploading fewer long-form videos.
The question for YouTube is how they continue to grow Shorts without cannibalizing their long-form content. They need to figure this out FAST because YouTube’s advertising revenue has been going in the wrong direction for 3 straight quarters.
Here’s the rundown for today…
Costs Of Ads Decrease - New Data Revealed
Facebook Subscription Program Incoming - Coming To Europe
Build Email List From Twitter - New Option
Best Video Editing Apps - Up Your Content Game
Favorite Countries To Outsource - Where To Get Good Talent On Any Budget
Lurn Bytes: Your Daily News Download
Digital CPMs Plummet - Digital advertising CPMs (Cost Per Thousand Views) have dropped by 49% year-over-year, according to data from AdRoll. They’re expected to rebound in the second half of the year. This might be a good opportunity for advertisers to take advantage of the current low costs.
Meta’s Considering a New Subscription Offering Which Would Enable EU Users to Eliminate In-Stream Ads - Meta is reportedly considering a paid subscription option for Facebook and Instagram users in the European Union that would allow them to avoid ads and personal data usage. This move is in response to evolving E.U. regulations, like the upcoming Digital Services Act, that could limit Meta's ability to gather user data for ad targeting, as well as past losses in ad revenue due to privacy measures like Apple’s iOS 14 app tracking update...
X Tests New Option That Would Enable Creators to Gather Email Contacts from Subscribers - X, formerly known as Twitter, is developing a new feature that would allow subscribers to share their email contact information with creators they follow, enabling off-platform communication and potential business opportunities for creators and brands. This move is part of a broader push to incentivize creators on the platform and could make X more appealing for building a strong creator and brand presence, both on and off the platform.
The Best Video Editing Apps
Creating content is essential for digital marketing in 2023, and video content is still king. While many marketers outsource their video editing, many don’t have the budget to do that.
If you want (or need) to do your own video editing, this article talks about some of the most popular video editing apps.
The challenge often lies in justifying the ROI for video marketing, as creating high-quality content requires not only a good camera but also specialized editing software.
A variety of FREE and inexpensive video editing apps are available, ranging from beginner-friendly options to those with Hollywood-level capabilities, making it easier to find one that fits specific marketing needs for platforms like Instagram and YouTube.
These video editing apps come standard with several essential features, regardless of whether they are free or require a subscription.
Users can expect capabilities like scrubbing through video during editing, choosing an appropriate aspect ratio for the intended platform, adding text and professional transitions, and exporting in various qualities up to 4K resolution.
Additionally, these apps usually offer the option to add music, either from a stock library or a personal collection.
Some even come with premium features, such as video asset management and graphic design tools, which make them even more versatile for crafting engaging content across different channels.
10 of the apps they talk about are…
Check out the article to get more information on each app, plus some additional video editing apps that they suggest.
Marketing Stat Of The Day
30,000 Hours
The number of hours of new video content uploaded to YouTube every hour, according to Statista.
Daily Hack - Our Favorite Countries To Hire From
If you want to scale your business, then you need to build a team. Building a killer team is easier said than done. The good news is that the world is your oyster!
Many scaling businesses are tempted to build a huge team filled with full-time salaried employees once they get consistent revenue coming in. However, bigger isn't always better. Big teams can be a headache—more drama, more costs, and more coordination.
Instead, consider keeping it lean and mean by hiring smart, not just big. And here’s where it gets interesting—go global!
When Lurn hit $30 million in sales, our team looked like this:
Core Leaders: 20% full-time and local
Functional Teams: 40% also full-time but mostly from the U.S.
The Global Team: 40% from all around the world, mostly contractors
Note: This is the ratio that worked for us. It’ll be different for every business.
As you can see, a substantial percentage of our team was overseas. Let’s talk about some of our favorite countries to hire from.
Tech: Vietnam & Eastern Europe
Need coders? We used to primarily go to Eastern Europe, but the rates there have been going up.
Recently We’ve been drawn to Vietnam. Tons of young, hungry tech talent and they don’t break the bank. Rates are between $10-$40 an hour, which is crazy cheap compared to the U.S.
Content Creators, Ads Pros, and More: India
India is a great place for all things content. We’ve used Indian talent for social media posts, blog articles, and even paid ads.
Young freelancers there are super motivated, and a lot of them speak English. The best part? You can find killer talent for about $6.29 an hour, according to Upwork. Good luck finding that deal in the States!
Customer Support & Admin: Mix it Up
For the folks who keep your customers happy and your operations smooth, look to countries like Brazil, Argentina, the Caribbean, India, and the Philippines. Good English, solid tech skills, and we’ve found super reliable people.
Bonus: You can have a support team that works around the clock.
A Quick Pro Tip for Hiring
When you’re looking for global talent, don’t go for the cheapest or the priciest folks. Aim for the middle, that’s usually where the magic happens.
So, that’s it! That’s my two cents on building a rockstar team without breaking the bank. You can probably find amazing talent in every country, but these are some of the ones that we’ve had the most success with.
ICYMI - The Biggest Stories You May Have Missed
YouTube Expands Access to Monetization Features, Adds New Comparative Analytics Options - YouTube is reducing the entry requirements for its Partner Program to 500 subscribers, expanding this eligibility to 33 more countries and offering creators earlier access to fan funding features. In addition, the platform is enhancing its analytics features, allowing users to easily access and compare data on multiple pieces of content through a new quick access process within YouTube Studio. This will create more opportunities for creators to profit off their channels…
Instagram Is Internally Testing The Ability To Create Reels Up To 10 Minutes Long - Instagram is internally testing the option to extend the maximum length of its Reels feature from three minutes to 10 minutes, aligning it more closely with TikTok, which made a similar extension in February 2022. The change aims to give creators more flexibility for producing content like cooking demos and tutorials, and it will also eliminate the need for multi-part series, making content easier to consume…
Shopify Merchants Can Soon Choose To Offer Buy With Prime Directly Within Their Shopify Checkout - Amazon is releasing an app in Shopify's ecosystem that will allow U.S.-based merchants using Amazon's fulfillment network to add a "Buy with Prime" option within their Shopify Checkout. This integration enables Shopify merchants to offer Amazon Prime benefits like fast, free delivery and easy returns, while still maintaining full control over their brand and customer data.
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